AI Startup MindsDB Goes from Open Source Project to $160 Million Valuation on Growth Rocketship

MindsDB, an AI startup that helps software developers build their own AI applications, has recently raised $25 million in a seed extension round led by Mayfield Fund with existing investors like Benchmark and OpenOcean contributing. The round valued the startup at $160 million post-money. Founded by CEO Jorge Torres and Adam Carrigan in 2016, MindsDB’s technology allows developers to perform the roles of machine-learning engineers. Through its paid product, the startup is adding enterprise customers regularly, recently reaching 100 customers with a projected 200 by the end of June. Torres attributes the success of the startup to the power of machine learning, his passion for programming, and being in the right place at the right time.